>> joe, final trade? >> nxpi, stay long. >> josh brown? >> vaw, going higher. >> stephanie. >> i like savan tech. >> and american airlines. 20% higher right now today. that does it for us. don't forget there's more fast at 5:00. have a great rest of the day @scottwapner. "power lunch" starts right now. >> "halftime" is over. "power lunch" and the second half of the trading day starts right now. >> good afternoon, everybody. refis, they are not driving in the revenues. rates scaring some respective homeowners away so how are the banks playing the lending game right now? they are loosening up on some of the high standards that kept some people out of the market. diana olick has the details in one minute. conversation or collusion? sources tell cnbc that bill ackman has filed a complaint about federal regulators against george soros for breaking insider trading rules by alerting other hedge funds about a big investment in herbalife, a company that ackman is shorting.

are those guys ganging up on that guy? and amid a global terror alert, what are the airlines doing to make sure we are safe in the air? we'll explore that one, but, first, let's check in with sue at the nyse. sue? >> good to see you, ty. stocks modestly lower today, and we'll cover the markets for you in just a second. first, as you mentioned, a big change in the housing market. lenders are making a change in their standards. diana olick is on the reality check for us and she joins us from washington. hi, diana. >> hi, sue, and you're right. fewer people are applying for mortgages overall and refinances are positively plunging. that has banks looking for more business and easing up a little bit on that tight, tight credit that had become the norm during the housing crash. take a look. credit availability rose 2.2% in july month to month and is up 3% from may, according to a new survey from the mortgage bankers association. may was when mortgage rates began to rise. the increase in availability was

primarily driven by increases in cashout refis and some growth in offerings for borrowers with higher ltds or lower credit scores. again, this is likely due to the drop in overall applications, down 47% last week from a year ago. refis down 59% while purchases up 5% so not really making up for it. refis are now 63% of all applications. they had hit a high of 84% of all loan applications in december of last year when mortgage rates had hit their record lows. refis are where the banks had been making a lot of their money in the mortgage space. now, on average mortgage closing costs also rose 6% over the last year to just over $2,400, according to bank rate.com, original nation fees accounted for the bulk of that, up 8%. as we said, we're seeing a lot more cashout refis, and that's home prices are rising. interesting to see the minute folks get a little more equity in their homes, they are pulling it out.

lots more, of course, online. realitycheck.cnbc.com. tyler. >> diana, thank you very much. it's a very interesting evolving story. cnbc and our scott wapner here with me now, just doing some reporting just then, reporting that bill ackman, the investor, has filed a complaint with the s.e.c. after george soros joined carl icahn in buying up a big chunk of herbalife. you'll recall probably that ackman has been shorting the stock saying that the company is nothing more than basically a pyramid scheme. that short position is a big reason why, by the way, ackman's percenting square capital lost during that time. if you're short, you don't like to see that kind of a business. with us also nathan vardy with "forbes." welcome to "power lunch." what do we know about this complaint of ackman's and whether people are ganging up on him? >> we know that bill acshan and pershing square have formally asked the s.e.c. to take a look

into the soros investment to see if it violated insider trading laws. the way that the investment was made, who was spoken to, whether there was a conversation with a large number of hedge funds before the investment was made. mr. ackman clearly wants to know how all of this went down. again, when we broke the news that mr. soros' firm had taken a long position into herbalife. >> and, of course, icahn is the largest single holder of herbalife and famously argued with ackman on your air some months ago about this. how much of herbalife does soros now have, do we know? >> we don't know, but we can surmise because we haven't seen a filing yet that it's under 5%, but i had reported it's one of his top three positions, so we know it's large. we don't know how large, but we do know that it most likely, if we haven't seen a filing yet, is below the 5% threshold that would cause such a filing to be made. >> nathan, jump in here. what do we know about whether

these -- these guys were speaking to one another or not, or do we know any of that? >> we don't know very much. i mean, this is a very serious accusation that bill ackman is making against soros. >> i think we've got an audio problem there with nathan who wisely describes you as a star report, by the way, which will call into question his reporting. >> that's very flattering obviously, but i think what the issue is here is what nathan probably was going to mention is there's the issue of how the investment was actually made, whether there -- >> the soros investment? >> right, whether there was a conversation at a gathering, whether it took the form of, look, and in the hedge fund business there are a lot of what they call idea event or idea dinners where people get around a table, and they will go around the table over a dinner and a private room, at a restaurant or where else, and some guy will stand up because i've been at

some of these dinners before as an off-the-record observer and some will stand up and say we're long x, y and z and here's the reason why. i've not been to one of those events nor have i heard of scenarios where, hey, we're thinking about doing a long position in x, y, z, who is with us? those are two entirely different things. we'll have to see what happens from this point forward. >> i think we have nathan back on the line. you want to jump in. i hope you've been able to hear some of the conversation. go ahead and add to it. >> what i was going to say is we really don't know very much about this very serious accusation that bill ackman is making against soros fund management. i'll make a few observations. one is that we've had controversies about hedge fund ideas and dinners before back in 2010, also involving george soros, and there was an investigation that petered out. it didn't go anywhere. in addition to that, you know,

since we don't have any evidence yet, you know, we really can't make a judgment, but, you know, this is part of a very public campaign that bill ackman has been waging against herbalife, and anyone who supports herbalife and is on the opposite side of bill ackman's large short trade. he's been using the press. he called a massive press conference with eight trading days left last year to promote the short. every financial reporter that, you know, ackman dream friendly gets e-mail blasts on a regular basis supporting his short campaign. this information was leaked out in the "new york post," so i think that's an important context to remember that, you know, there's a big public campaign going on involving massive investors in herbalife and, you know, we've got to see more involving -- regarding this serious accusation before we can really make a judgment on it. >> but you -- you know as well, these -- these idea dinners, as they are become known in the business are pretty commonplace, right? you've got a lot of investors

around a table. everybody is throwing out ideas around the table. >> they are commonplace and accusations, you know, that conjure up conspiracy theories against them are also commonplace, and in the past those accusations, you know, haven't really gone anywhere, but, you know, maybe bill ackman does have serious evidence here. you know, we'll have to see how it plays out. i'll just say this that none of this has any bearing on bill ackman's investment thesis on herbalife, that it's a pyramid scheme that will go to zero when regulators shut it down. this is all outside of that scope and this stock was going to pop when george soros's investment in herbalife was made public one way or the other and we were all going to know about it in mid-august anyway when the soros fund management has to filed its 13-f. so i really don't know what george soros, why they would conspire in such a manner to get that information out a little bit earlier. >> right. well, at last we have to leave

it there. nathan, thanks very much for joining us. you could make a lot of money going against the grain, but when the grain is icahn, soros, loeb and chapman and you're on the other side of that, that's a lot of grain. >> let's also point out as well, you mentioned at the very top of the segment ackman's performance being down some 2% in july. he's up 4% year to date. >> and the s&p? >> it's not like -- >> 20%. >> i know, but, look, they are hedge funds. they got long and short positions. >> yeah, yeah. >> not all of them have performed under 16%. >> no, no, no. very high performers and middle of the road performers. the point i think though is while everybody focuses on the herbalife situation, the jc penney situation that hasn't gone acman's way there's a number of other stocks within his portfolio that have gone well on their way for his positions and thus he's up on the year. i just want to make that clear. >> good to see you, man. sue, down to you.

we're down 66 point on the dow jones industrial average. bob pisani joins me on the floor of the nyse. we got decent data. not all of it was good but some of it was good. >> two out of three. ism services was much better than expected and the employment component not great. now we have manufacturing and services and the ism is strong and the non-farm payroll that's the outlier so far. the market hasn't been terribly impressed with the ism number though better than expected. we dropped around 11:30 when richard fisher, the head of the dallas fed, commenting on when they might be ending bond purchases. this is my favorite line. we should gird our loins to make our first move this fall. that's a pretty picture. >> richard, what the heck? >> mr. fisher, of course, a well known hawk on these matters here. let's move on and just leave that image in our mind. big oil again weak. exxon down 3% last week and just taking the energy here. chevron also weak, and they both missed on their numbers and having trouble continuing to

grow. they are drags on the dow. home builders are lagging. a big company which does industrial construction supplies, they came out with july numbers, july sales, 2.9% below expectations, and this is a company where they make a lot of little thing, the nuts and bolts and hardware stuff that a lot of construction companies buy as well as industrial companies. that's i think why the home builders were down. we see strength in health care and, sue, this is why the market holds up so well. energy stocks don't have any movement. you get moves up in hospital stocks. parts of the market keep rotating in and out, and that's what keeps the averages near those historic highs. >> thank you, robert, appreciate it. >> seema mody is at the nasdaq, take it away. >> the nasdaq hit a fresh 13-year high thanks to big moves in the tech space. the white house reversed an international trade decision that banned the sale of certain

older apple iphones and ipads. take a look at cisco as well. shares hitting a three-year high. baird raised its price target to $30. then you have facebook continuing its comeback, now above $39 a share, a 52-week high and piper jaffrey upgrading its price target on shares of facebook and blackberry shares sharply higher. there's a blog claiming that it has leaked images of the next generation blackberry 10 handset, mkm partners telling me that a new phone is not what blackberry should be focusing in on and that it needs to concentrate on its overall business strategies. shares though of blackberry eyeing that $10 level. back over to you. >> all right, seema. thank you very much. some corporate news to tell about this hour. revlon is moving higher in today's trading session by 5.33%. the company buying colimer group which is a beauty care company that markets and sells professional products to salons. it's been a good year so far for revlon. it's up 75% year to date.

and this ain't chicken feed. tyson's gaining some considerable ground in today's trading session. the poultry producer posting better than expected third quarter earnings and revenue boosted by strong chicken sales. the stock is up nearly 20% in the last three months. up better than 4% today alone. cable vision is on the move but to the downside by just half a percent. ceo james dolan telling the "wall street journal" his company could eventually stop offering television service and make broadbandits primary product as more and more people watch television from the internet. the stock is up more than 30% year to date. ty? >> in the 2:00 p.m. time warner cable, its incoming president robert marcus at 2:00 will join us, time warner cable, of course, in a big fight with cbs, and you'll want to see what he has to say. mr. marcus. plus, as a global security alert remains in effect, u.s. embassies closed throughout africa, and the middle east what. are the travel companies doing?

jane wells is live in san diego. jane? >> tyler, a big conference here for that, just as global business travel is rebounding to pre-recession levels. we have this travel threat. companies here touting new products to help you keep track of your employees when they are in dangerous places. we'll have that after the break. to experience the precision handling of the lexus performance vehicles, including the gs and all-new is. ♪ this is the pursuit of perfection. that's not much, you think. except it's 2% every year. go to e-trade and find out how much our advice and guidance costs. spoiler alert: it's low. it's guidance on your terms, not ours. e-trade. less for us. more for you. it's guidance on your terms, not ours. in a we believe outshining the competition tomorrow requires challenging your business inside and out today. at cognizant, we help forward-looking companies run better and run different -

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hsbc stock is losing ground in today's trading session. europe's biggest bank posting

lower than expected quarterly growth. the stock is up about 4% this year but down 4.33% in today's trading session. >> a developing story we're closely monitoring. the state department extending the closings of some u.s. embassies amid what the obama administration calls serious and credible threats by al qaeda. diplomatic facilities will remain closed in many of the countries you see right there throughout the middle east and africa until at least august 10th. the global travel alert coming at the same time as a global travel conference is taking place in san diego. jane wells is there live. jane, how is the global industry taking all this in? >> well, they are sort of processing it today, this is the global business travel association meeting, 400 companies and 7,000 people, all of whom are getting used to traveling in a more dangerous world. >> business travelers have become much more accustomed to it, and in a global economy you

know that you do have a higher risk profile than maybe in years past, but it's a fact of life, and we all deal with it. >> so he says companies are detailing products which help you track and redirect traveling employees to safety concur which manages travel bookings and expenses for companies and report a 23% revenue growth last week. it's introducing a new business travel risk management tool as in terror risk. >> that allows you to draw a circle on the map and everybody within that circle i want to track and be able to send a message and say meet me at this location and then track their progress to that, and you want to be able to do that in an integrated model that never fails. >> orbitz has a growing business site and it, too, is touting tools during the threatening days like alerting you of trouble. >> this is something that we pioneered a decade ago. realtime delivery of information so you are automatically getting the flight updates you need, the

security updates you need and should you go ahead and take the trip we'll be able to find you and tell your company where you are and if we need to reach you we can reach you. >> reporter: such are the times we live in. haven't seen a hit in business since the terror threat went out last friday though that could change if the areas of concern move to a major business destinations and by the way, speaking of concerns and security later this week at this conference, ty, hillary clinton and laura bush are both scheduled to speak so there will be a huge presence of secret service. back to you. >> jane, thank you very much. jane wells reporting from san diego. well, new york yankees star alex rodriguez is said to be handed a major suspension from major league baseball. other players facing long suspensions, too, so what's next for these guys and what does it mean for the broader business of baseball, plus we'll analyze big, qualcomm, steve madden, the

show guy, we'll have experts here to wade in and take a look at priceline.com. 14-year high, up 50% so far this year. geoff: i'm the kind of guy who doesn't like being sold to. the last thing i want is to feel like someone is giving me a sales pitch, especially when it comes to my investments. you want a broker you can trust. a lot of guys at the other firms seemed more focused on selling than their clients. that's why i stopped working at my old brokerage and became a financial consultant with charles schwab. avo: what kind of financial consultant are you looking for? talk to us today. trust your instincts to make the call. to treat my low testosterone, my doctor and i went with axiron, the only underarm low t treatment. axiron can restore t levels to normal in about 2 weeks in most men. axiron is not for use in women or anyone younger than 18 or men with prostate or breast cancer. women, especially those who are or who may become pregnant

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♪ well, the alex rodriguez saga will go on apparently a bit longer. major league baseball pushing back its announcement on biogenesis punishments until later today. it was originally scheduled for

noon eastern time today. if suspended rodriguez is likely to appeal which means he'll likely to play in chicago. a great article. i read your article this morning, and basically it seems to me, and tell me if i'm wrong, the delay in this announcement means that there some durantic negotiating going on and what do you think is on the table now. >> well, they are giving guys chances to accept their suspensions. the surprise today was that nelson cruz of the texas rangers accepted his. everybody thought he would appeal and getting everything lined up perfectly. no sense in rushing it. this will happen this afternoon. >> what's going to happen? he's going to appeal apparently, a-rod, correct? >> correct. it will be about 13 announcements for suspensions. everybody will be able to get a 50-game suspension except for one person, alex rodriguez. he'll get a ban through the 2014

season. it will really be a 214-game suspension. this is a very lucrative contract that he has. how does the money game play out in all of this? >> well, he's going to lose about $34 million, $35 million in this through the 2014 season. if he returns in 2015, he still has a guaranteed $61 million coming into him, so a lot of money at stake here. >> what does it do to the broader business of baseball because, i mean, if you look at these guys, some of whom obviously as you just mentioned accept the penalty, some of them appeal, but the use of performance enhancing drugs at that level influenced their record, influenced the numbers and influenced their ability to negotiate salaries and influenced everybody else's ability to negotiate salaries. >> yeah. the players want these guys caught also. it's a complete different culture change in that clubhouse is that players now have turned against players who are cheating, so baseball says, hey, if you're cheating, we're going to catch you.

we've spent more money in this investigation than all of our investigations in the history of the sport, so we're determined to do what it takes, even though it doesn't look good for baseball now, in the long term, at least they can show their fans we're doing everything possible to keep a clean game. >> what's it going to be like for a-rod if he plays in chicago, because, you know, if he did indeed use performance enhancing drugs and that enabled him to create a better record, that enabled him to get more money, that enabled him to perform better than against some of his peers on the field, and i would think that would create some tension in the locker room and on the field. >> yeah, not so sure about the tension in the clubhouse but the fans will be all over him, screaming him. opposing players will be upset. you're right. he made a lot of money off of this, but, you know, he could have gotten off the steroids. he signed this contract in 2007, so it's been going on for quite a while. >> if he was able to perform

better than someone else on his team that is still on the team and that enabled him to get this enormous lucrative contract, don't you think that's going to create a little tension against the other guy that didn't get as much money as a-rod did and didn't use performance enhancing drugs? >> a little bit, and this is why the players want to see a stiffer suspension for the first time. they want to see it go up from 50 games to 100. some people think lifetime. that might be extreme, but i think we'll definitely see the penalties getting more severe in the drug testing program. >> all right. thank you very much, box for joining us. we appreciate it. boston red sox owner john henry meantime, speaking of baseball, has bought the "boston globe" from the "new york times" for $70 million and cash, but that is less than 1/10 of what "the times" paid for the company when it bought the newspaper for $1.1 billion in 1993. "the times" stock is down about 7% during that time. last trade, it's down half a percent at $11.86. ty, up to you.

>> sue, thank you very much. power rundown time, interesting topics today. john carney and bob pisani join me. president obama, let's start there, overturning an international trade commission ban made on june 4th which shut down imports of certain older apple iphones and ipads based on the -- the ban was based on a patent dispute with rival samsung. who is this trouble for? samsung i presume, john? >> yes, the market thinks it's big trouble for samsung. i think it's good that obama overturned it. these laws that try to prevent people from manufacturing, from innovating are terrible. we need to really revisit this whole thing. >> bob pisani? >> i don't know that this devalues the value of patents, how much it does. i think it might a little bit, but i do know every time a lot of these license -- every time people try to borrow patents and use them in their products from the license holders, it seems like the license holders try to charge unreasonable fees or block them from using that. i think that was an issue in

their decisions these days, and i think somehow that's got to be addressed. you've got to be able to go out and have competition and legally license other people's patents for use. >> let's move on to time warner and cbs, another dispute here. they just can't seem to make a deal. since friday cbs stations including showtime remained dark for millions of time warner cable customers, and it brings up the question of a la cart pricing. will these disputes eventually lead to that where you'll be able to pick not channels that the cable company sort of bundles together but any channel you want and pay a separate price for it? >> look, i think eventually what we're going to move to is a lot more consumer choice, but i don't think this is going to lead to it all that quickly. these disputes have been going on for years. the cable companies have been making a lot of money. i think cbs probably has a right to demand a little bit more money than it's been getting. whether they should be getting double, i'm not sure, but the cable companies have done very

well under the arrangements that have been there for years. i'm not surprised to see pushback and fighting going forward. >> i'm surprised that cbs actually told people to go to aereo if they wanted to get the time warner, told people to go to aeroio if they wanted to get cbs. sending people to a competitor seems like a silly idea, but the bigger issue. if you let it go down the food chain, how about they stop paying stupid money for sports transmission rights. that's part of main problems that exist here and maybe if they start saying no, these companies, to the sports leagues, maybe the pricing won't be so absurd. >> let's remind you that robert marcus, the ceo of time warner cable, will be on at 2:00 on "street signs" to address some of these and other concerns about this big dispute with cbs. now, jetblue making a big change. it's been an all coach discount airline basically since inception. now it will add premium seats, live flat beds for certain

transcontinental flights starting next spring. it's going to be on flights to l.a. and san francisco from new york. are they joining the crowd, or do they lose some of their specialness here, bob? >> i think that it's the right way to go. i've flown across country a couple times in the last six, seven months, and each time i go on and there's seats available, and if i can get an upgrade, i'll take it, but sometimes i paid $50, $60 more to sit in a seat that's a little better, wider, bigger aisle seat. people are willing to do that and that's where the money is. i think it's a terrific idea. >> john? >> i get worried when companies seem to confuse what their mission was. this wasn't what jetblue was going to be, wasn't going to be like every other airline. i like jetblue. i'm worried when they start to be something for everybody rather than just what they are good at. when companies lose focus they tend to not make as much money. jetblue is in danger that have here. >> let's move on to not google glass but a billionaire sergei brinn has funded a $330,000 project to make test tube meat,

yes, he says for animal welfare reasons, scientist in the netherlands have successfully created the first lab-grown hamburger from stem cells taken from a cow. yay or nay, bob, would you eat it? >> this is well done. take a look at that. did you see what's in this here? fixed strips of pinkish yellow lab grown tissue. i think it gives new mining to the pink slime. overall unappetizing for sure, but if it tastes like it and they can actually find a way to reproduce it, so to speak, i think it's a great idea. >> it could be great for -- if they can produce it for very low cost, but i guarantee you i'm not going out and organized this in a new york city restaurant any time soon. it sounds disgusting, but if it helps solve the global hunger problem, you know, i guess good for sergei. >> you know how much corn goes to those cows? >> we do waste a lot of money. it's very inefficient to raise those cows, but i'll tell you what, a good steak tastes good.

>> all right, guys. beef, it's what's for dinner or maybe not in that case. thanks very much. sue, down to you. >> all righty. after that appetizing meal, let's go to the gold market. the gold prices are closing now, and sharon epperson is tracking the action at the nymex for us. hi, sharon. >> reporter: hi, sue. gold prices falling a little bit here at the close but still above the $1,300 level. looking at gold prices that have been affected by what money managers have been doing over the last week or so, and that is cutting their long positions. in fact, we're looking at the bullish bets for gold being lowered for the first time in five weeks according to the last commitment of traders reports and shorts rising by about 7% which was the biggest increase we've seen there in about six week's time. the losses are extending what we saw last week in gold and silver as we and we're continuing to watch the slide there and whether or not we'll see another change in the direction. it will likely have to do with the next economic data points that come out. keep your eye on the etf market

because the gld, the largest gold etf fell in its holdings to the lowest level we've seen in three years on friday. the 1,300 level will be very key, tyler, not only for the gold future price but also what might happen in the etf market. back to you. >> thank you very much. >> sure. >> we should note apple just hit a four-month high, a stock making a comeback run in the next several weeks. don't know whether it was related to the patent dispute we were just talking about, up $16.47 and now it's time to analyze the analysts. are their calls right or wrong? and the guy to decide that is michael yoshikami. let's start with qualcomm, piper jaffrey downgrading that come from neutral to overrate on high-end smartphone demand. the shares are up 6% a year. agree or disagree? >> kiss agreement i think

qualcomm is in the right space and qualcomm might be a little bit the next couple of quarters. call come is well positioned to make advantage of that wireless. >> you see that at 66 and change on the day. >> argus research upgrading dow chemical from buy to hold. they say, goat, there's improving probably economic growth. do you agree or disagree with this upgrade? >> i agray. i think industrials are the way to go. emerging markets have absly been very troubled but a way to participate in global economic expansion of industrial names like dow i think is a good idea. >> goldman sachs, upgrading steve madden shoes to buy from sell, noting, quote, the likelihood of shareholder value enhancing capital allocation is high. whatever that means. the stock is up nearly 4% on the day. michael, you like this call or not? >> you know, i'll tell you what

from a thematic standpoint people are spending more money. this stock is an expensive stock and raiding at 14, 15, expands out to 18, 20, 22, you're looking at numbers that are getting rhetty high and you have to be careful on a stock like this. i cautiously agree on a thematic basis but i think there are others there that should be traded. >> michael, good to see you. >> thanks, tyler, you get. >> ty, we're posing a question today? what do you wish you have done different any in the financial crisis? what the lte would done and why. coming up, ceo robert marcus.

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get the trade action here. bob pisani joins me here at post nine. kind of stuck in neutral. a lot of earnings still to go. >> disney will be coming out later this week, but the important thing today is overall the ism services number better

than expected and yet we didn't get a lot of movement on that from the dow. 11:30, mr. fisher, the head of the dallas federal reserve came out and made some comments and basically said we should be girding our loins. >> again with this. >> to make our first move this fall. i just love saying that. it's a colorful line from a colorful man. that kind of moved the markets to the downside. take a look at sectors. tech has been up because apple had a lot of help with that patent case. consumer staples were up. tyson a big help there but just turned neglect sieve. consumer discretionary a little weak and industrials a little bit lagging and energy hasn't had any energy for days because exxon, royal dutch shell and a number of other companies all had earnings below expectations. one group doing well is hospitals and this is one of the reasons the stock market keeps holding up. any time you get a group that's weak for several days like energy stocks you get another group like health care coming in on the upside so the market keeps rotating around. one group having a tough time is auto stocks. they had good numbers, generally very good numbers on the july

sales numbers last week. toyota was at a 52-week high as i recall on friday but you see down 3%, 2% and japan also down a fraction here, sue? >> thanks very much. let's go up to the nasdaq and seema mody rejoins us. >> hi, sue. analyst many times say the reason for the slowdown in pc sales is because more consumers are buying tablets. according to idc tablet shipments saw a sequential decline and with no new ipads the market slowed for many vendors and that's likely to continue into the third quarter. however, the fourth quarter new products are expected from the likes of apple and am don and that could likely drive growth. a couple of bright spots to take advantage of the technology space. micron tech, it closed its lp to acquisition last week which will give it a stronger footing into

the mobile chip space, facebook up 3% on the day. priceline higher ahead of its earnings report on wednesday. sue, back to you. >> seema, thank you very much. >> let's pay attention to the yield curve right now. as we always do, the market is watching it closely. >> rick santelli tracking the action at the cme. hey, rick. >> believe me, it might be the dog days of august or very close to them but there can still be a lot of action in the fixed income markets. a 24-hour chart. you can see we're up a handful of basis points but let's open the chart up to the time slot that matters the most. start this chart out just before we have the last jobs report on the 5th of july, and what you'll see is that today hovering at 2.65 after what was deemed a weak employment report we're destined potentially of the third highest yield close and i find that so face naysnated

because number one is the 5th of july after the strong high report and the other high close was a day after the report we had on friday. boy, certainly about jobs, jobs, jobs and risk. if you look at the hyg and lqd, hy is high lead and these etfs are under a little bit of pressure today. the stickiness of interest rates, making the risk trade a little different than some of the past chapters, and the last chart, if you look at intraday at the dollar index, they have the sea legs back after that report friday or do they? open it up to a two-day chart and can you see we're not only still under pressure. we're still doing too much work under 82, so say the technicians. tyler, back to you. >> rick santelli, lots to ponder right there. rick, thank you. how much cash should you hold if you're wealthy? our robert frank knows. robert, what's the answer? >> the wealthy are holding record amounts of cash. we'll tell you why they are filling their bank accounts and what they may be afraid of. that's coming up after the

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in today's yahoo! finance question of the day we asked with a new study showing credit is loosening up as rates go up, which do you prefer? 16% say higher interest rates with easier approval. 59% say low interest rates with more difficult approval and 25% say i would like to skip the whole thing and just pay in cash. nice if you can do that. all right. let's see what's coming up on "street signs" at 2:00 p.m. eastern time. a big interview coming up, mandy. welcome back, by the way. >> thank you very much, sue. you might be one of the millions of people of time warner cable viewers without shoecbs or show so today a first on cnbc

interview with robert marcus, incoming ceo and an expert is weighing in on the obama administration overturning the ruling against apple and how this may affect trade going forward and the three things i learned in italy, and yes, by the way, folks, it's fantastic to be back. see you at the top of the hour on "street signs." >> we'll see you then, mandy. fossil moving lower as barclays downgrades the fashion accessories retailer to underweight ahead of the earnings report coming out on tuesday. slowing sales as well down better than 10.33%. scripps falling as its second quarter profits drop 21% as the newspaper and television company reported a large drop in revenue from political advertisements. the stock is also down on the trading session sharply where it was. now it's moved back on the other side. iac interactive gaining ground on news it sold "newsweek" to digital ibt media for an undisclosed amount, and shares of compugen soaring.

heavy volume on that stock as well. the israeli-based company entering a new cancer research to explore antibody-based therapy. they will receive an up front payment of $10 million and is eligible to receive over $5 million in some payments. the stock is up 45%, ty. >> they overborrowed and probably overspent in the financial crisis. the wealthy now, however, making some big changes about what they do with our money in our wealth editor robert frank is here with the details. what are they doing, robert? >> reporter: you would think the wealthy are not afraid of running out of cash and a new study shows that those earning $750,000 or more are the nation's top cash hoarders. when asked what they learned from the financial crisis the top answer was save more. that was more important than investing more wisely or reducing debt. these savings are reaching record levels.

they hold 28% of their portfolios in cash. that's more than twice the level held by those making 250 or even those making 100,000 or less. data from american expression publishing shows the top 1% are saving 37% of their income. that's an all-time high. they were saving only 17% just before the crisis so a big move there, and those cash piles are actually going to keep growing despious bite these market highs. 70% plan to put more into their checking and savings accounts over the next 12 months. the good news, they will also buy some stocks. about half plan to put money into equities and about a third will also buy bonds but cash is still king here. now their top concern when it comes to investing is washington. political environment topping the list of investor worries followed by government gridlock and national debt. now given the tone in washington it doesn't look like the wealthy will give up their cash comfort blanket any time soon. >> so what does this he is tans to, a, spend and, b, invest, suggest either for the markets or the broader economy.

>> there's a big debate about that. there's little evidence that they are holding back the market. having all-time highs. the luxury sector on the spending side is doing well, but this particular group is actually business owners. large percentage of them own companies so the fact that they are not putting it into their companies, creating jobs and instead hoarding all that cash, that's where it's a bad sign. they are not investing in job creation. >> i see. robert frank, thank you very much. >> thank you. >> all righty, sue, down to you. >> thank you, guys. a new episode of "the profit" on cnbc. how self-made millionaire harcus lemonis helped turn around one businessman's fortunes. and up next, the top 500 twitter accounts. that's all still ahead. that's coming up. a look at the top fortune 500 twitter accounts for you. of the available lexus enform,y including the es and rx. ♪ this is the pursuit of perfection. ♪

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drum roll, please. the top five twitter accounts in corporate america. facebook, google, starbucks, whole foods and walt disney, the mouse house. well, wednesday at 9:00 eastern and pacific the twitter revolution airs on cnbc. it's a new documentary profiling how this company works and how it's changing the world.

the story takes us all the way back to found thor jake dorsey's original idea and the first brainstorming session in a san francisco playground seven years ago. >> even as it matures into a serious immediate can a company, twitter has kept its youthful energy and cheeky sense of humor. >> a lot of people around america, they watched us and said this is not like my office. >> not everyone has one of these. life sized tomb raider statues. >> reporter: dick costello is twitter's ceo. he works long days and hits the company gym whenever he can. in social media it's survival of the fittest. >> the average in the company is 25 years old. i'd fall over at 4:00 if i wasn't in good enough shape to keep up with everyone. >> reporter: twitter's rise in just seven years has been swift and strong. >> i tweeted. >> reporter: attracting more than 200 million active users in

the world and churning more than 1 billion tweets every two to three days. >> it's a fantastic documentary. watch carl quint nillia's "twitter revolution" at 9:00 p.m. eastern on tuesday. >> it's getting harder and harder to make money as a small business man or woman. jackie deangelis now with a closer look at the flower business. >> good afternoon, tyler. flowers may in bloom, but that doesn't mean that florists are a blooming business right now. according to the society of american florist, between 2000 and 2011 there was a 37% decline in independent florist retailers across the country, and it's difficult for local florists for several reasons. first, consumer spending, when the economy hits bumps, discretionary items are the first to get cut from budgets. second, flowers are perishable, so florists need to be really on point when it comes to ordering supplies and anticipating their

customers' needs. third of, local shops often have high overhead, rent, employees, delivery vehicles and gas. it's also a highly competitive landscape, not just among local vendors on pricing quality and service but also with online dealers who can order in bulk and ship their flowers to recipients. >> the local florist market has been shrinking for years and really after 2008 and 2009 that accelerated, it's very tough for local florists to make it work anymore, especially with the net and people no longer shopping on high streets. >> also consumers traditionally perceived florists as expensive. they have become innovative this their sourcing for the flower needs and go to wholesalers, farmers markets and upsupermarkets. that's not to say there's no silver lining here. florists who are willing to get in there and work with their staff, they are going to save money. going electronic helps streamline things and also delivery route management and encouraging consumers to pick items up. that can all help, too. >> when you need a florist, they are great to have, and i've needed them from time to time.

>> i bet you have. >> all right. in tomorrow's episode of "the profit" marcus lemonis tries to fix a florist. "the profit" will visit a struggling florist. you don't want to miss that. sue? >> indeed we do not. all right. stocks are struggling a bit today, ty. down about 50 points, but there are some individual stocks moving higher. as we go to a break, take a look at tesla motors powering forward to another all-time high. it is up 318% this year and another 3.25% today. and a reminder again in the 2:00 p.m. hour the incoming ceo of time warner cable on the big fight with cbs. [ agent smith ] i've found software that intrigues me. it appears it's an agent of good. ♪ [ agent smith ] ge software connects patients to nurses to the right machines while dramatically reducing waiting time.

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cbs has provided to others and since both parties lived under those terms for many years we believe we should continue to live with them. here's the real interesting part here. time warner cable says if you're unwilling to agree to this proposal we'd be willing to resume carriage by making the cbs stations available on an a l.a. cart basis with 100 of the pricing returned to cbs. no cable company has ever done this before. this would really be breaking up that bundle for cbs and making sure that people have to decide whether or not they want to actually pay for cbs. now, the message here of this letter is they want to get cbs back on the air and they say in connection with these proposals we expect you to allow us immediate carriage of the cbs stations and this would be ongoing to make sure consumers are not once again held hostage by cbs and they also ask cbs to seize its blocking of cbs.com to